Read the story here. Advertise at Before It's News here.
Profile image
By RedState (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Ron Paul: That Ted Cruz Is Owned By Goldman Sachs, But Sanders Has A Libertarian Streak

% of readers think this story is Fact. Add your two cents.

Ron Paul took some time out from spinning conspiracy theories, cultivating white supremacists, and gulling Alex Jones’s audience out of their hard-earned transfer payments to appear on Fox Business’s “Varney & Company.” (As an aside, why would any thinking person take financial advice from anyone with a British accent? Chinese? Yes. Indian? Yes. Russian? Possibly. British? No freakin way.)

“You take a guy like Cruz, people are liking the Cruz — they think he’s for the free market, and [in reality] he’s owned by Goldman Sachs. I mean, he and Hillary have more in common than we would have with either Cruz or Trump or any of them so I just don’t think there is much picking,” Paul said of the Texas senator on Fox Business’ “Varney & Company” on Friday.

Surprisingly, the elder Paul seemed more attracted to the views of Vermont Sen. Bernie Sanders, who is giving Hillary Clinton a run for her money in the Democratic primary.

“On occasion, Bernie comes up with libertarian views when he talks about taking away the cronyism on Wall Street, so in essence he’s right, and occasionally he voted against war,” the former Texas congressman said when asked if there was a candidate who was truly for the free market.

As far as I can tell, Ted Cruz’s connection with Goldman Sachs is that his wife took a job with that company shortly after she married Cruz (she is no longer employed by them) and Cruz took out a loan from Goldman Sachs for his primary challenge to David Dewhurst.

Going into tonight’s G.O.P. debate, in South Carolina, the Times story is the talk of the political class. The author, Mike McIntire, revealed that, in 2012, Cruz used a loan that his wife took out from Goldman to help to finance his successful Senate campaign, during which he honed his reputation as a critic of bank bailouts and corporate cronyism. The Goldman loan, which was for between two hundred and fifty thousand and half a million dollars, wasn’t disclosed to the Federal Election Commission, as it should have been. Rather than publicly acknowledging its existence, Cruz subsequently told reporters that he and his wife had liquidated practically all of their personal savings to help pay for the campaign.

Based on McIntire’s inspection of the annual ethics reports that Cruz and other Senators are obliged to file, which require them to list all of the assets they own, this appears to have been a fib. In addition to taking out the loan from Goldman in 2012, which was a margin loan attached to a brokerage account, the Cruzes took out a credit line, of similar size, from Citibank. Between the beginning and end of 2012, the value of the cash and securities that the family owned didn’t diminish to zero, or anything near it. Rather, it “saw a net increase of as much as $400,000,” McIntire reported.

That loan was secured by his own assets and has since been repaid. It was a commonsense move that did not result in his family finances being crippled by his campaign. If you have a home equity loan you’ve done much the same thing.

The fact that Paul finds financial prudence deplorable and finds a mangy old Bolshevik to be admirable speaks to the point that we’ve made on RedState for years. Ron Paul is a fraud. His political life was a fraud. He preyed on his supporters and left the politics of the nation much more poisonous than he had found it.

The post Ron Paul: That Ted Cruz Is Owned By Goldman Sachs, But Sanders Has A Libertarian Streak appeared first on RedState.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.